The method for stimulation of oil production involves the positioning of a downhole device at the operational depth of a well, the device being connected to a surface supply, and the excitation of elastic oscillations of certain distinct frequencies. Furthermore, bottom-hole clogging products are crushed and formation oil recovery is stimulated by a periodic impact on the bottom-hole zone of an ultrasound-range elastic oscillation field in a continuous mode and in a low-frequency pulse mode with simultaneous removal of clogging materials from the bottom-hole oil formation zone. In the continuous mode, the impact is carried out using a high-frequency oscillation of 16-25 kHz, and in the pulse mode, the impact is carried out at a frequency of 1-50 Hz. In terms of their design, the devices for stimulation of oil production consist of the following principal items of equipment: an ultrasound generator, a downhole ultrasonic emitter, a jet pump and a geophysical cable.